Information Answer: Data converted into a meaningful and useful context
Human mediation is necessary
Data Answer: Facts and statistics collected together for reference or analysis
Knowledge Answer: Information that has been synthesized and contextualized
o Aggregated...
Information Answer: Data converted into a meaningful and useful context
Human mediation is necessary
Data Answer: Facts and statistics collected together for reference or analysis
Knowledge Answer: Information that has been synthesized and contextualized
o Aggregated and filtered through human experience (tacit)
o Hard to structure· Information that has been synthesized and contextualized
DBMS (Database Management System) Answer: A software package designed to define,
manipulate, retrieve and manage data in a database.
Value of a Network Answer: Scarcity: the value of a good is a function of its limited availability
(diamonds)
Plentitude: the value of a network is a function of the number of connected nodes (fax machine)
Value is increased as more fax machines are introduced into the market
o Nodes connected to one another: clustering and degree of connections, can be homogeneous or
heterogeneous, whether they have or are complements
What is an enabler? Answer: IT is the enabler of new strategy, initiative, and effective management
Network effects are: Answer: increases in the value of a product to each user, including existing
users, as the total number of users rises
, The Network Effect - Metcalfe's Law Answer: The value of networked system grows as the user
population increases. Examples include Amazon, Mapmyrun, Pandora, Spotify, Waze, etc.
A company can experience all three: Network, Marketplace (Ebay), Platform (Operating Systems- Apple,
Microsoft, Android), or just one
o Facebooks benefits from all three aspects Answer: True
Composite Key Answer: Two or more primary keys used in a table.
4 perspectives of privacy Answer: · We have the right to be left alone "Data Privacy Advocacy"
i. My information is mine
· The communitarian perspective
i. Privacy is good, but has to be balanced against the needs of the greater community: US government,
PSU
· Market-based perspective
i. Market will determine what is okay in terms of data protection; many business students hold;
companies wouldn't be collected unless we wanted them to
· The feminist perspective
i. Protecting those who don't have as much power; individual privacy is a concept that belongs to people
in power
Data Privacy Advocacy Answer: My information is mine
The Communication Perspective Answer: Privacy is good, but has to be balanced against the needs
of the greater community: US government, PSU
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